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Institut pour la recherche interdisciplinaire en sciences juridiques et criminologiques

Centre Droit, Entreprise et Société

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Institut pour la recherche interdisciplinaire en sciences juridiques et criminologiques

Centre Droit, Entreprise et Société

Conference Stablecoins (28.05.26)

crides |

crides
28 May 2026 , modifié le 26 May 2026

STABLECOINS
Legal, economic and 
geopolitical implications for Europe

Interdisciplinary Conference
May 28th, 2026 – UCLouvain Saint-Louis (Brussels)

  Registration required before May 20 via this link 

  Venue
UCLouvain Saint-Louis Bruxelles | Salle des Examens
43 Bd du Jardin Botanique | 1000 Bruxelles

  Access

Scientifc committee
Gaetan Bakalli (EMLyon Business School), Pauline Bégasse de Dhaem (UCLouvain), 
Henri Culot (UCLouvain), Baudouin de Hemptinne (Robert Triffin International), 
Christian Ghymers (Robert Triffin International), Philippe Lambrecht (UCLouvain), 
Bernard Snoy (Robert Triffin International)

Contact 
For any inquiries, please contact 
Gaetan Bakalli (bakalli@em-lyon.com), 
Pauline Bégasse de Dhaem (pauline.begasse@uclouvain.be)

Contact@CRIDES ariane.robyn@uclouvain.be

Organisation

logos

___________________________________________________________________________________

With the support of Fonds National de la Recherche Scientifique (FNRS), 
Camille Gutt Fund (Université libre de Bruxelles) 
and Fonds Scientifique Jean Bastin

 

Context

The summer of 2025 was marked by a whirlwind of news regarding stablecoins. The most notable event was undoubtedly the adoption of the Genius Act in the United States, the first federal legislation on stablecoins, during Crypto Week. The stock market listing of Circle, the world’s second-largest stablecoin issuer, was also spectacular and widely commented on: introduced at USD 31 on the New York Stock Exchange, the stock closed at USD 83.23. In the wake of these events, specialized and general media seized on the topic, oscillating between enthusiasm for the development prospects of stablecoins and concerns about the risks they generate.


To date, the dollar represents more than 99% of stablecoin reserves, and President Trump banned the Federal Reserve by decree from issuing an official digital dollar (CBDC dollar) from the start of his term, in order to promote a private dollar-stablecoin intended to strengthen the use and dominance of the dollar in the International Monetary System.


Should we be concerned about these developments or rather rejoice in them? How could the dollar-stablecoin prevent trends toward de-dollarization or threaten monetary sovereignties? Answering these two questions requires defining what stablecoins are, understanding their regulatory framework, their current developments in the international monetary system and financial markets. In this regard, it is essential to grasp their advantages compared to existing currencies, their differences with CBDCs, and their effects on the International Monetary System or the geopolitical instrumentalization of the dollar.
 

More generally, it would be appropriate to study their societal and political economy impacts as a whole. Following questions arise. Are stablecoins a new kind of money? Will they affect the transmission of monetary policies and interfere with the actions of central banks? Should we prefer central bank digital currency (CBDC)? What are their potential impacts on the payments sector and the banking sector? Could they be the source of the next financial crisis? What are the stablecoins potential effects on the ecological transition?

At the level of the European Union, should we rely solely on a digital euro, ensuring better control, or should we integrate regulated private money – stablecoins – inviting innovation but demanding prudence? Why is a euro-stablecoin not developing? What is missing? Should we be satisfied with the current legal framework, developed by the European Commission? Can the same stablecoin be issued in different states? 

At the international level, are USD denominated stablecoins an instrument designed to maintain the global dominance of the USD or at least to slow down an inevitable process of dedollarization? Could privately created SDR-anchored stablecoins offer an imaginative path allowing central banks of a given region to pool their exchange reserves and to contribute to restoring multilateralism?

Given the urgency of the debate on these issues and the possible geopolitical implications CRIDES (UCLouvain) and the Robert Triffin International Association (RTI) are organizing with partners, a multidisciplinary scientific conference day dedicated to stablecoins and their implications.

 

PROGRAM

Update 06.04.26

MORNING SESSION

08.30  Registration opens. Welcome coffee.

09.15  Welcome remarks by the organizers
Henri Culot (UCLouvain), Bernard Snoy (RTI), Michel Vanden Abeele (Gutt Fund) and Patrick De Wolf (Fonds Scientifique Jean Bastin)

09.30  SESSION 1 

THE EMERGENCE OF STABLECOINS AND THEIR LEGAL FRAMEWORK

09.30  What are stablecoins? 
Matthieu Duplat (UCLouvain), Partner at Jones Day

09.45  Comparative analysis of regulatory approaches in the US and the EU
Pauline Bégasse de Dhaem (UCLouvain), Prudential Policy Adviser, National Bank of Belgium

10.00  Implications of stablecoins for the banking sector, monetary policy and financial stability 
Sarah Cheliout, Policy Officer, Prudential and Financial Stability department, National Bank of Belgium

10.15  Implication for the payment sector
Federico Becerra, Expert in payment policy, National Bank of Belgium

10.30  Q&A and session conclusions 
Philippe Lambrecht, UCLouvain and Hon. Sec. Gen. FEB/VBO

11.00  Coffee Break

 

11.15  SESSION 2  

STABLECOIN USE AND RELATIONSHIP WITH COMMERCIAL BANK MONEY

11.15  Stablecoin use in Europe, status of MiCA legislative framework and trends 
Mattias Levin, Head of Unit in charge of Digital Finance, DG FISMA, European Commission

11.30  The Digital Euro versus Stablecoins, where do we stand? 
Filip Caron, Head of Unit “Digital Euro”, National Bank of Belgium 

11.45  The business case for stablecoin issuance and competitiveness with classical commercial bank money 
Floris Lugt, CFO of Qivalis

12.00  Q&A and session conclusions
Pauline Bégasse de Dhaem, UCLouvain

12.30  KEYNOTE ADDRESS 

Stablecoins to transform the global monetary and financial system: EU Institutions and banks reaction
Vítor Constâncio, former Vice President of the ECB and MoF of Portugal

13.00  Lunch Break

AFTERNOON SESSION


14.00  KEYNOTE ADDRESS 

The EU should embrace decentralized finance and make it safe
Ousmène Jacques Mandeng, Accenture and Visiting Fellow at LSE


14.30   SESSION 3

ECONOMIC AND GEOPOLITICAL IMPLICATIONS OF STABLECOINS

14.30  The political economy implications of stablecoin development 
Baudouin de Hemptinne, RTI
Gaetan Bakalli, EMLyon Business School

14.45  The tokenization of money: possible impacts on the international monetary system 
Hung Tran, Senior Fellow at the Atlantic Council, RTI Board

15.00  Cryptomercantilism versus Monetary Sovereignty – How stablecoin laws shape the battle for international monetary supremacy
Edoardo D. Martino, Associate Professor, University of Amsterdam; Research Associate, European Banking Institute

15.15  SDR-Anchored Stablecoins to restore multilateralism 
Christian Ghymers, Vice Chairman of RTI, President of the IRELAC-Interdisciplinary Institute

15.30  Q&A and conclusions session
Bernard Snoy, Chairman RTI

 

16.00  Reception